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Between 1867 and 1900 U.S. steel production increased more than 500 times from 22,000 tons to 11,400,000 tons and Bessemer steel rails, first made in the U.S. that would last 18 years under heavy traffic, would come to replace the old wrought iron rail that could only endure two years under light service.
History of Transportation in the United States before 1860 (1917). pp 366–72 online; 698pp; Encyclopedic coverage; railroads by state pp 319–550. Perkins, Edwin J. American public finance and financial services, 1700-1815 (1994) pp 324–48. Complete text line free; Porter, Glenn. The rise of big business, 1860-1910 (1973)(ISBN 0690703945)
Business history is a historiographical field which examines the history of firms, business methods, government regulation and the effects of business on society. It also includes biographies of individual firms, executives , and entrepreneurs .
The Boston Transcript published in 19,000 "agate lines" Of advertising in 1860, 87,000 in 1900, and 237,000 in 1918. [34] In 1893, 104 companies spent over $50,000 each on national advertising; most sold patent medicines, which faded away after the federal food-and-drug legislation of the early 20th century.
During the Reconstruction era, Northern money financed the rebuilding and dramatic expansion of railroads throughout the South; they were modernized in terms of track gauge, equipment and standards of service. The Southern network expanded from 11,000 miles (17,700 km) in 1870 to 29,000 miles (46,700 km) in 1890.
The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1899, depending on the metrics used. [1] It was most severe in Europe and the United States, which had been experiencing strong economic growth fueled by the Second Industrial Revolution in the decade following the American Civil War.
Wage rates improved steadily; real wages (after taking inflation into account) were 65 percent higher in 1901, compared to 1871. Much of the money was saved, as the number of depositors in savings banks rose from 430,000 in 1831, to 5.2 million in 1887, and their deposits from £14 million to over £90 million. [16]
Many individuals and companies have a claim to being the first railroad in the United States, but by the mid-1830s several companies were using steam-powered locomotives to move train cars on rail tracks. Between 1840 and 1860, the total length of railroad trackage increased from 3,326 to 30,600 miles (5,350 to 49,250 km). [44]